Billionaire Michael Bloomberg announced on Thursday, January 23, that his foundation will fund the United Nations Framework Convention on Climate Change (UNFCCC) following President Donald Trump’s second decision to withdraw the United States from the Paris Agreement. The move aims to ensure the climate body remains fully operational despite the U.S. halting its contributions. The …
179 oil theft incidents uncovered in one week – NNPCL
The Nigerian National Petroleum Company Limited says it uncovered 179 incidents of crude oil theft in the past week. The company affirmed that the war on crude oil theft and vandalism rages on as industrywide security collaboration continues to safeguard hydrocarbon infrastructure. A video released by the NNPC shows the incidents recorded between January 11 …
EKEDC warns customers against cyber threats
The Eko Electricity Distribution Company has issued a public advisory, urging its customers to be more vigilant and proactive in safeguarding themselves against the rising wave of cyber threats. In a statement issued by the company and signed by the EKEDC General Manager, Corporate Communications, Babatunde Lasaki, the company said with the increasing reliance on …
FG approves licence for 10,000 barrels per day refinery
The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has announced the approval of a licence for the construction of a new refinery. The approval was given to MRO Energy Limited, an energy company for the construction of a 10,000 barrels per stream day refinery at Imode In Ughelli, Delta State. This …
Tinubu has steered economy in right direction – Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said on Tuesday that President Bola Tinubu had steered the economy in the right direction and was determined to stay the course. This was revealed in a statement to The PUNCH. The minister spoke during the defence of his ministry’s financial estimates before the National …
W’Bank bans two Nigerian firms, CEO over corruption
The World Bank Group has announced the 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr Norman Didam, for fraudulent, collusive, and corrupt practices linked to the National Social Safety Nets Project in Nigeria. In a statement issued on Monday, the World …
Equity market loses N1.45tn in one week
The Nigerian equity market experienced a loss last week, shedding N1.45tn in market capitalisation. The All-Share Index fell by 2.94 per cent, closing the week at 102,353.68 points, while the market capitalisation also dropped by 2.26 per cent to N62.85tn. A total of 2.252 billion shares, valued at N58.83bn, were traded in 63,657 deals, a …
Ex-FirstBank boss Onasanya dismisses fraud allegation
A former Group Managing Director of FirstBank, Dr. Bisi Onasanya, has dismissed claims of his involvement in a commercial loan transaction carried out 12 years ago at the lender. Onasanya refuted the allegation in a statement signed by his communication advisor, Mr. Michael Oshunuyi, on Sunday, wherein he described the claims as baseless and an …
Dangote releases statement over the hike of fuel price
Dangote Refinery and Petroleum Products Marketers have spoken on the recent premium motor spirit price hike to global crude oil prices as Nigerians lament its impact. Reacting to the latest price hike, Dangote Refinery, in a statement by its spokesperson, Anthony Chijiena, explained that it is due to a significant surge in the global prices …
Tax bills will be passed in Q1, implementation to commence in July – Oyedele
The Chairman of the presidential committee on tax policy and fiscal reforms, Taiwo Oyedele, says the tax reform bills will be passed into law in the first quarter (Q1) of 2025. Oyedele made this disclosure on Saturday, January 18 while speaking at The Platform, an event organized by The Covenant Nation to facilitate national development. …